Even President Obama admitted in his “60 Minutes” interview that there is going to have to be entitlement reform and there’s no “entitlement” that needs fixing faster than Social Security. And now we have a bipartisan study that proves it. Charles Blahous III and Robert Greenstein disagree about the solution but they have reached the same conclusion about the problem in their new report for the Pew Economic Policy Group (“Social Security Shortfall Warrants Action Soon”): “All projections regarding [Social Security’s] finances contain an element of uncertainty, but this is not a reason to adopt a “wait-and-see” attitude. Under the overwhelming majority of possible scenarios, and allowing for variance in a wide range of critical variables, Social Security’s future shortfall will be substantial. It is also much more likely that the shortfall will be significantly larger than now projected than that it will vanish altogether. All of these factors argue for acting soon.

“Reasonable and well-intentioned people will have differences over the best way to resolve the Social Security shortfall. We share a common interest, however, in taking action to do so at the earliest practicable time.”

Of course not everyone is on the same page, exactly. Over at TPM, we’ve got those who see things totally backwards. But not to worry, these are the same folks wh got creamed in last week’s elections. Time for more serious folks to take the field.